Trends and Application of Technology in the Real Estate Sector
The new technologies are bringing about a revolution in all areas, including real estate, do not stand back and notes. Real estate companies are undergoing a series of important changes, thanks, above all, to modern technology that is making its way. With the advances, enormous advances are being made:
- Improve construction and renovation processes.
- Provide properties with state-of-the-art technology.
- Open an alternative real estate market to the traditional sale.
New technologies in the real estate sector
Now, you may be wondering how do new technologies help the real estate sector?
All the technological development that is being implemented in the sector is causing a real transformation, through the tools that we will explain below. This change is affecting real estate portals, clients and social networks.
Artificial intelligence as a technological key in the real estate sector
The artificial intelligence is one of the technologies that are more modernizing the sector. It mainly does it in three directions:
Customer service: Thanks to the learned system, which is like an automatic system, when clients contact the real estate agency, they can be asked basic initial questions. In this way, it will be possible to know what type of properties they are looking for, or which agent is specialized to be able to serve them, among other information.
Property valuation: With the information of the most requested homes or those that have sold the most in the last period, a lot of information can be extracted. Artificial intelligence can interpret the data automatically to determine the best-selling possibilities and the optimal price.
Home visits: With analysis and a detailed study of customer preferences, it will be possible to determine whether there are real purchase options. As a result, considerable time wasted is avoided. Virtual reality and 360-degree photography are also being used to screen out unsure customers.
Real Estate Virtual Reality
Through the progress made in this technology, future buyers are allowed to visit virtually the new- build home they are interested in buying, realistically recreate the modifications and reforms they want to carry out, as well as contacting virtual assistants directly. And all this without leaving your home.
Drone technology for real estate
The use of drones in the real estate sector allows you to see in real-time and from anywhere in the world, the status of new developments, the evolution of the construction of a property and the status of materials.
Big Data and Machine Learning in the real estate sector
These two innovative technologies, the first consisting of the management of large volumes of data and the second, in machine learning, are responsible for allowing companies to approach customers more closely and in a personalized way and for this way, expedite decision-making.
Real estate blockchain
Blockchain technology will make it possible to streamline the processes of buying and selling or renting homes, thus eliminating intermediaries, reducing the risk assumed by the parties and providing greater security in financial transactions. Although it is not yet possible to buy a property using the blockchain, there are real cases of application of this technology.
In the United States, in the fall of last year, tokenization took place (a token is a privately issued digital unit, which represents a security or a right and that are protected by cryptographic keys) of 18% of a hotel in Colorado for 18 million dollars. Also, from $21,000, it is possible to acquire a part (in tokens) of a luxury student residence in South Carolina.
Thanks to the tokenization of assets, it is possible to divide what until now is indivisible: the ownership of a house. This will be very useful in cases of divorce and conflicting inheritances.
Real estate cryptocurrencies
Cryptocurrencies are a digital means of payment that uses cryptography to secure transactions. These have already been used to carry out various financial investment and real estate purchase and sale operations.
However, banks, as well as real estate companies must adapt their systems to introduce and accept payment systems based on cryptocurrencies, such as with Bitcoin or Ethereum, among others.
Fintech real estate
Real estate companies and companies oriented to the real estate sector are beginning to make use of Fintech or what is the same, technology-oriented to finance. This, through various algorithms, can help facilitate real estate asset transactions, automate the correspondence of information between intermediaries, clients and other stakeholders and even speed up the signing of documents, such as contracts or mortgage granting.
SetSchedule — transforming the real estate landscape in the United States
Among the real estate market players based in the United States, SetSchedule emerges with an innovative business model, incorporating technology on all levels of real estate development, information and marketing.
It is an independent technology company in America which specializes in real-estate data, mobile applications, communication tech and information surrounding the U.S. market. SetSchedule offers a suite of SAAS Products, consumer cloud communication products, artificial intelligence, and autonomous business flow applications.
